For the most recent year, Seether, Inc., had sales of $454,000, cost of goods sold of $216,800, depreciation expense of $57,400, and additions to retained earnings of $49,600. The firm currently has 39,000 shares of common stock outstanding, and the previous year's dividends per share were $1.45.

Assuming a 32 percent income tax rate, what was the times interest earned ratio?